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World oil prices jumped after Israel said that it had struck Iran in a spectacular climbing of tensions in the Middle East.
The price of the Brut Brent reference has increased by more than 10%, reaching its highest level since January, before losing earnings.
The traders feared that a conflict between Iran and Israel will disrupt supplies from the region rich in energy.
The cost of crude oil affects everything, of the quantity it costs to fill your car at the cost of food at the supermarket.
After the initial leap, oil prices have released a bit. But the crude Brent was even more than 5% higher than the closing price on Thursday, trading at around $ 70.60 per barrel.
Despite Friday’s movements, oil prices are even more than 10% below those where they were at the same time last year. They are also well below the summits observed at the beginning of 2022 after the invasion of Ukraine by Russia, when the price of the crude has climbed well above $ 100 a barrel.
Friday, the share price dropped in Asia and Europe. The Japan Nikkei sharing index ended the day down 0.9%, while the FTSE 100 index in the United Kingdom closed 0.39%.
In the United States, in the United States. The industrial average of Dow Jones fell 1.79% while the S&P 500 fell by 0.69%.
The so -called “haven” active ingredients such as gold and the Frankish Swiss have made earnings. Some investors consider these assets as more reliable investments in times of uncertainty.
The price of gold has reached its highest level for almost two months, increasing by 1.2% to $ 3,423.30 an ounce.
After the attack on Israel, Israeli Defense Forces (FDI) said that Iran had launched a hundred drones to the country.
Analysts have told BBC that energy merchants will now monitor how the conflict is getting worse in the coming days.
“It is an explosive situation, although the one that could be defused quickly as we saw in April and October from last year, when Israel and Iran hit directly,” Vandana Hari of Vanda Insights said.
“This could also slip into a larger war that disrupts the oil supply of the Middle East,” she added.
Capital Economics analysts said that if Iran’s oil and export production facilities were targeted, the price of crude brent could drop to $ 80 to $ 100 a barrel.
However, they added that such an increase in prices would encourage other oil producers to increase production, which ultimately limits the rise in prices and the training effect on inflation.
A spokesman for the British automotive organization The Rac, Rod Dennis, said that it was “too early” to say what impact the last rise in petroleum would have on petrol prices.
“There are two key factors at stake: if the wholesale prices have been maintained in the coming days and, above all, the type of margin retailers decides to take,” he said.
In an extreme scenario, Iran could disrupt the supplies of millions of barrels of oil per day if it targets the infrastructure or shipping in the Strait of Hormuz.
The Strait is one of the most important shipping routes in the world, with about a fifth of the world oil that crosses it.
At any time, there are several dozen oils on the way to the Strait of Hormuz, or leaves it, as the main producers of oil and gas in the Middle East and their customers transport the energy of the region.
Lou limited to the north by Iran and to the South by Oman and the United Arab Emirates (Water), the Hormuz Strait links the Gulf to the Oman Sea.
“What we see now is an initial risk reaction. But during the next day or two, the market will have to take into account where it could degenerate,” said Saul Kavonic, energy research manager at MST Financial.
Additional report by Katie Silver
